One-for-one businesses help those in need - FOX 13 News

One-for-one businesses help those in need

Posted: Updated:
MYFOXNY.COM -

Socially minded entrepreneurs have recently started favoring the "one-for-one" business model, which means when a consumer buys a product the company donates an equivalent item to someone in need.

Blake Mycoskie, the founder of TOMS shoes, pioneered the concept back in 2006. The company gives away shoes in places like earthquake-ravaged Haiti and Peru. Blake says it was his way of giving back.

Now it looks like other companies are following suit. State bags will give a bag away to a child in need in the United States. Bob's by Skechers has the business model. And so does hip eyeglass company Warby Parker.

It seems like it's a win-win for both the consumer and the company.

Just two years ago, David Heath and Randy Goldberg read a quote that said that socks are the no. 1 item needed in homeless shelters. Without hesitation, they started the sock company Bombas with the one-for-one business model.

So what makes Bombas socks so special? Seven different components, including a performance foot bed, a honeycomb support system, and and stay-up technology. The thoughtful design can be felt in every step.

Both co-founders David and Ryan say they walk around with socks in their pocket all the time and both agree that there is no better feeling that giving away a pair to someone who really needs them.

  • Your MoneyMore>>

  • Housing activists protest Airbnb

    Housing activists protest Airbnb

    Friday, September 12 2014 7:41 PM EDT2014-09-12 23:41:17 GMT
    You've probably seen Airbnb commercials extolling the benefits of homeowners renting out their houses or apartments to out-of-town guests for a fee. Sharing is caring feel-good commercials.But housing activists say Airbnb is reducing available housing in New York City's increasingly expensive and shrinking housing market. They argue Airbnb is pushing thousands of apartments toward use as illegal hotels instead of affordable housing.
    You've probably seen Airbnb commercials extolling the benefits of homeowners renting out their houses or apartments to out-of-town guests for a fee. Sharing is caring feel-good commercials.But housing activists say Airbnb is reducing available housing in New York City's increasingly expensive and shrinking housing market. They argue Airbnb is pushing thousands of apartments toward use as illegal hotels instead of affordable housing.
  • Robot workers are coming

    Robot workers are coming

    Friday, September 12 2014 7:13 PM EDT2014-09-12 23:13:15 GMT
    A life-sized looking and sounding robot named the RoboThespian is an interactive, alert machine powered by algorithms and codes -- a form of artificial intelligence. It's the sort of thing that would have sounded like science fiction a generation ago. These days, robots like this are used mostly in showrooms and for entertainment. But researcher Cadell Last of the Global Brain Institute says that these bots will have a much bigger role and will make up a major part of the workforce.
    A life-sized looking and sounding robot named the RoboThespian is an interactive, alert machine powered by algorithms and codes -- a form of artificial intelligence. It's the sort of thing that would have sounded like science fiction a generation ago. These days, robots like this are used mostly in showrooms and for entertainment. But researcher Cadell Last of the Global Brain Institute says that these bots will have a much bigger role and will make up a major part of the workforce.
  • Clothing for a cause

    Clothing for a cause

    Friday, September 12 2014 7:00 PM EDT2014-09-12 23:00:07 GMT
    Like millions of Americans, John Williams has been out of work for months. He has finally landed an interview for a customer service position. To make sure he gets the job, he is making sure to look his best, thanks to Suited for Work.Suited for Work is a program under FEGS, a nonprofit that's been around for 80 years. Since its inception, Suited for Work has outfitted more than 8,000 men with brand-new suits donated by manufacturers.
    Like millions of Americans, John Williams has been out of work for months. He has finally landed an interview for a customer service position. To make sure he gets the job, he is making sure to look his best, thanks to Suited for Work.Suited for Work is a program under FEGS, a nonprofit that's been around for 80 years. Since its inception, Suited for Work has outfitted more than 8,000 men with brand-new suits donated by manufacturers.
Powered by WorldNow

FOX 13 / WTVT-TV
3213 West Kennedy Blvd.
Tampa, Florida 33609
Main: (813) 876-1313
Newsroom: (813) 870-9630
Fax: (813) 871-3135

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | New Terms of Service What's new | Ad Choices